Finishing a Chapter 13 case successfully is a big deal. It is rewarding financially and emotionally. Here’s how it happens.
Income tax debt may be discharged–legally written off–in a Chapter 7 case. It just needs to meet some conditions.
Most debts can be discharged–permanently eliminated–in bankruptcy. Here are the exceptions.
Chapter 13 helps if you owe divorce debts, have personal property collateral, are behind on property taxes, or owe old and new income taxes.
Which of the two consumer bankruptcy options is better for you if you have lots of unsecured debts depends on the kind of unsecured debts.
Save your home by catching up on real property taxes and securing the release of recorded income tax liens.
Chapter 7 “straight bankruptcy” may be worthwhile if it gets rid of your other debts and leaves you able to manage your taxes.
Q&As about tax refunds, whether and when to file late tax returns, joint tax debts with ex-spouses, getting rid of tax liens, and more.
Can the IRS seize your car or truck in payment of a tax debt you owe? Yes, if it has substantial equity. Will it do so? Possibly.
If you owe income taxes for 2013, filing a Chapter 13 “adjustment of debts” would enable you to pay that tax under very favorable terms.